ORA Ormat Technologies Inc

SPARKS, Nev., April 10 /PRNewswire-FirstCall/ -- Ormat Technologies Inc. (NYSE:ORA) is pleased to announce that its subsidiary, Ormat Nevada Inc., which develops, supplies and constructs geothermal power plants, as well as owning and operating a number of such plants in Nevada, California and Hawaii, has signed a contract to supply a 10 MW Ormat Energy Converter (OEC) power unit. The contract is in the amount of $11,500,000. (Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO ) Since beginning operations in Nevada with the supply of a 760 kW geothermal plant in Lyon County, Ormat has supplied or installed approximately 800 MW of geothermal and recovered energy power plants in 23 countries, and has grown to own six U.S. geothermal facilities with a total of approximately 300 MW of generating capacity. The existing plant, to which an additional OEC will be added, uses single- flash technology to produce approximately 23 MW net of power to the grid. That plant utilizes only steam, which is separated from the brine and delivered to the plant, while the brine is reinjected into the ground. Ormat's technology enables recovery of heat from the brine before reinjection and utilizes it to generate 10 MW of additional power in the Ormat Energy Converter (OEC) without additional resource or wells. The OEC power unit will be delivered in the second quarter of 2007 for installation adjacent to the existing plant. About Ormat Technologies Ormat Technologies, Inc. is a vertically integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal power plants. It also designs, develops and builds, and plans to own and operate, recovered energy-based power plants. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat products and systems are covered by more than 70 patents. Ormat currently has operations in the United States, Israel, the Philippines, Guatemala, Kenya, and Nicaragua. Safe Harbor Statement Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to Ormat's plans, objectives and expectations for future operations and are based upon its management's current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, see "Risk Factors" as described in Ormat Technologies, Inc.'s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 28, 2006 and the Final Prospectus filed with the Securities and Exchange Commission on April 5, 2006. These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Ormat Technologies Contact: Investor Relations Contact Dita Bronicki Jeff Corbin/Todd Fromer CEO and President KCSA Worldwide +1-775-356-9029 212-896-1214/212-896-1215 / DATASOURCE: Ormat Technologies Inc. CONTACT: Ormat Technologies Contact: Dita Bronicki, CEO and President, +1-775-356-9029, , or Investor Relations Contact, Jeff Corbin/Todd Fromer, KCSA Worldwide, +1-212-896-1214/+1-212-896-1215, / Web site: http://www.ormat.com/

Copyright